SEC Won’t Refile Fraud Case Against Richard Heart!

Yigit Taha OZTURK — Wed, 23 Apr 2025 09:00:15 +0000

The U.S. Securities and Exchange Commission (SEC) has announced it will not refile its fraud case against Richard Schueler, better known as Richard Heart, founder of Hex. In an April 21 letter to Judge Carol Bagley Amon, SEC attorney Matthew Gulde stated: “The Commission does not intend to file an amended complaint in this matter.”

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The case was previously dismissed on February 28, after Judge Amon ruled that Heart’s activities were not explicitly targeted at U.S. investors, thus falling outside the SEC’s jurisdiction.

Heart Declares Victory Over SEC

Heart took to X (formerly Twitter) on April 22 to announce that HEX, PulseChain, and PulseX had fully defeated the SEC. He described the case dismissal as a major win for open-source software, cryptocurrency, and free speech, noting that “the SEC actually sued software code itself in this case.”

The SEC originally sued Heart in July 2023, alleging he raised over $1 billion through unregistered securities offerings via HEX, PulseChain (PLS) and PulseX (PLSX).

Despite Interpol issuing a Red Notice for Heart in December 2024, and allegations of tax evasion in Finland, the case has now been dropped without further filings—marking one of the rare complete losses for the SEC in crypto litigation.

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The post SEC Won’t Refile Fraud Case Against Richard Heart! appeared first on Coin Engineer.

New Memecoin Fiasco from Libra Creator: 99% Crashed!

Yigit Taha OZTURK — Sun, 16 Mar 2025 15:00:09 +0000

Hayden Davies, wanted by Interpol for fraud allegations, has launched another memecoin. However, this token is also making headlines due to insider trading and a sudden collapse in value. Wolf (WOLF), the memecoin launched by Davies, lost 99% of its value in just two days, causing massive losses for investors.

Hayden Davies Launches Wolf Memecoin: The Result? A Total Disaster!

Hayden Davies, known as the creator of Libra (LIBRA) and Official Melania Meme (MELANIA) tokens, has returned with a new Solana-based memecoin called Wolf (WOLF). On March 8, Davies launched Wolf, aiming to benefit from rumors that Jordan Belfort, known as the Wolf of Wall Street, was launching his own token.

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However, things didn’t go as planned. After its launch, Wolf reached a market cap of $42 million, but 82% of the token’s supply was controlled by a single entity. According to Bubblemaps, who shared data on March 15, this pointed to a pre-planned insider trading operation.

“The bubble map revealed WOLF had the same pattern as HOOD, another token launched by Hayden Davies. Was he behind this one too?” – Bubblemaps

Bubblemaps also reported that Davies transferred funds to 17 different addresses months before the token launches and routed them through two different blockchain networks.

Wolf Lost 99% of Its Value in Two Days!

According to Dexscreener data, Wolf’s market cap, which was $42.9 million as of March 8 at 04:00 UTC, dropped to just $570,000 within two days.

Davies’ move with Wolf came just weeks after the Libra token disaster. Back then, eight insider wallets withdrew $107 million in liquidity, causing a $4 billion market cap wipeout within hours.

Libra Scandal Turns Into a Political Crisis!

Argentine President Javier Milei was heavily criticized after endorsing the Libra token, which triggered impeachment threats. Argentine lawyer Gregorio Dalbon requested an Interpol Red Notice for Hayden Davies, claiming that if Davies remained free, he could escape the U.S. or go into hiding due to his access to large sums of money.